BitcoinForex (SPOT)

ERGO Coin ($ERG): Weekly Analysis & Forecast

 

Today we continue to follow our Altcoins Watchlist, and this time we are talking about $ERG (ERGO Coin). Technically speaking, the main trend is still down, but we expect a continuation of this technical bounce in the near term. If we look at the daily chart, an area around $2.54 is an important medium-term technical resistance, an approach to $3 could open the way to $5.50, and this is precisely the target we would like to see in the medium term. But that is not all! reaching $5.50 will cause a shortage of liquidity which should push $ERGO to $6.50, so this will be our true TP1. In conclusion, in the short term the swing shown on the chart will maintain the bullish structure, with support around 1.91.

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